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Buy Ashoka Buildcon; target of Rs 125: Sharekhan

Sharekhan is bullish on Ashoka Buildcon has recommended buy rating on the stock with a target price of Rs 125 in its research report dated February 08, 2021.

February 11, 2021 / 03:13 PM IST
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Sharekhan's research report on Ashoka Buildcon

Q3FY2021 standalone revenues were lower than estimated, led by delayed receipt of appointed dates for few projects while OPM too lagged expectations. Expect execution to improve from Q4FY2021. Management retained FY2021 standalone revenue guidance and raised it for FY2022. OPM guidance lowered. Asset monetisation is in final stages and is likely to be completed by Q4 and receive the funds by Q2FY2022. Aid in de-leveraging and freeing up equity capital.


We retain a Buy on Ashoka Buildcon Limited (Ashoka) with a revised price target of Rs. 125, considering a healthy order backlog, comfortable liquidity and improving industry outlook.

For all recommendations report, click here

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Broker Research
first published: Feb 11, 2021 03:13 pm

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